Seabridge Gold (NYSE:SA) Sees Large Volume Increase – Here’s What Happened

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares saw an uptick in trading volume on Thursday . 2,323,537 shares changed hands during trading, an increase of 85% from the previous session’s volume of 1,258,022 shares.The stock last traded at $32.7230 and had previously closed at $34.64.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SA shares. Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday, December 29th. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, B. Riley upped their target price on Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.00.

Seabridge Gold Stock Performance

The company has a market capitalization of $3.01 billion, a PE ratio of -74.45 and a beta of 0.82. The company has a 50 day moving average price of $30.47 and a 200 day moving average price of $23.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.99 and a current ratio of 2.99.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Trading of Seabridge Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in Seabridge Gold during the 2nd quarter worth $26,000. Total Investment Management Inc. acquired a new position in shares of Seabridge Gold during the second quarter valued at $28,000. Caitlin John LLC acquired a new position in shares of Seabridge Gold during the third quarter valued at $31,000. Blue Trust Inc. grew its position in shares of Seabridge Gold by 974.0% during the third quarter. Blue Trust Inc. now owns 1,654 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Seabridge Gold by 100.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,000 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 1,500 shares during the period. 34.85% of the stock is currently owned by institutional investors and hedge funds.

About Seabridge Gold

Seabridge Gold Inc, together with its subsidiaries, engages in the acquisition and exploration of gold properties in North America. The company also explores for gold, copper, silver, and molybdenum deposits. The company was formerly known as Seabridge Resources Inc and changed its name to Seabridge Gold Inc in June 2002. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.